Wednesday, August 08, 2012

Morning Real Estate Review

AIA "modestly optimistic" about construction future (Electrical Marketing) American Institute of Architects says growth in non-residential construction will slowly rise through 2013, and that a spike in industrial construction will make non-residential rise 4.4% this year, much stronger than the 2.2% forecast.

FBI investigating developers' tax deals with DC government (Washington Post)  The District wrote off more than $2.6 billion last year when developers appealed assessments, but appraisers and tax officials complain about the process as feds investigate.

Slowdown in commercial real estate transactions mutes expectations of real estate recovery (National Real Estate Investor) After a strong first quarter, a slower second quarter takes some momentum away from the market.

JBG puts equity stake in L'Enfant Plaza up for sale (Washington Post) The Chevy Chase developer bought the complex in 2003 for around $200m, and is now offering a piece of ownership as it overhauls the underground food court.

HARP refinancing continues to surge (Mortgage News Daily) The federal program grew to a 33% share of all Freddie and Fannie refinances, up from 20%.  The number of homeowners using the program skyrocketed in June.



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